SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 9, 2006


ARBIOS SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

000-32603
(Commission File Number)
  
91-1955323
(I.R.S. Employer Identification No.)
 
  
 
8797 Beverly Blvd., Suite 304
Los Angeles, California
(Address of Principal Executive Offices)
  
 
90048
(Zip Code)

(310) 657-4898
(Registrant’s Telephone Number, Including Area Code)
______________________________


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (See General Instruction A.2 below):

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
 
(b) On November 15, 2006, Arbios Systems, Inc. (the “Company”) announced that its Chief Scientific Officer, Jacek Rozga, M.D., Ph.D., has resigned on November 9, 2006 as a full-time employee effective November 30, 2006. The Company is currently negotiating an agreement with Dr. Rozga under which he would provide consulting services to the Company. The agreement is expected to be executed prior to November 30, 2006. The Company’s press release announcing Dr. Rozga’s resignation as a full-time employee is attached hereto as Exhibit 99.1 and incorporated herein by reference.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit No.   Description
     
99.1  
Press Release of the Company, dated November 15, 2006.
 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
  ARBIOS SYSTEMS, INC.
 
 		  
 		  
 
Date: November 16, 2006 By:   /s/ Walter C. Ogier
 
Walter C. Ogier
  President and Chief Executive Officer


EXHIBIT INDEX


Exhibit No.   Description
     
99.1  
Press Release of the Company, dated November 15, 2006.